Hotline: Interpublic Group reports profits

Interpublic Group has reported profits of $137 million (£67.8 million) for the second quarter of 2007, almost double what they were last year. Revenue was up slightly to $1.65 billion, and net income was $137 million, up from $65.7 million in 2006. The company's share price jumped 9.8 per cent to $10.71 on the news.